Loan Comparison: 4.63% vs 6.5%
2598 Harlan, Edgewater, CO 80214 · 2bd/1ba · $550,000
List Price
$550,000
Assumable Rate
4.63%
Remaining Balance
$266,027
Equity Gap
$277,902
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$277,902
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.63% (FHA)
Blended Rate: 6.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4.63% + gap loan
$3,294/moAssumed loan: $1,369/mo
Gap financing: $1,925/mo
$9less per month with the assumable
Your Savings on This Property
2598 Harlan, Edgewater · 4.63% FHA vs 6.5% conventional
$9
per month
$104
per year
$3,108
over 30 years
$0
interest saved
How gap financing works: The equity gap ($277,902) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($250,402 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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